________________ became the cornerstone of the neoliberal development model during the 1980s and 1990s, and they influenced the policies of the International Monetary Fund (IMF) and the World Bank.
A) The classical models of development
B) Normative projects
C) Structural adjustment programs
D) Sustainable developments
E) Conventional developments

Question

Quizplus · Accepted Answer

Structural adjustment programs (SAPs) became the cornerstone of the neoliberal development model during the 1980s and 1990s. They were imposed by the International Monetary Fund (IMF) and the World Bank as conditions for loans and debt relief. SAPs aimed to promote economic growth and development by reducing state intervention in the economy, privatizing state-owned enterprises, and liberalizing trade and investment. However, SAPs also led to social and environmental consequences, such as job losses, income inequality, and environmental degradation.

________________ Became the Cornerstone of the Neoliberal Development Model During